Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Tullow Oil Abandons Exploration Well Onshore Kenya After No Finds

11th Mar 2015 07:26

LONDON (Alliance News) - Tullow Oil PLC Wednesday said it has plugged and abandoned an exploration well in an onshore block in Kenya after failing to find any significant oil or gas.

In a statement, the oil company said it had drilled the Engomo-1 exploration well on Block 10BA in Kenya down to a total depth of 2,353 metres, but failed to find any significant oil or gas shows.

The well was the first to be drilled in the large North Turkana Basin and is located west of Lake Turkana where the company said numerous naturally occurring oil slicks and seeps have been observed. It said analysis is being focused on high-grading the remaining prospectivity in the basin, and the rig used to drill Engomo-1 will now be demobilized.

"Whilst we would have hoped for basin opening success in the North Turkana Basin's first wildcat well, Engomo-1, we still have a vast amount of undrilled acreage with identified prospects and leads providing significant remaining exploration potential," Tullow Exploration Director Angus McCoss said in a statement.

The company had better news from the South Lokichar Basin in Kenya that it is appraising.

"There is further good news from our appraisal programme in Northern Kenya where the Ngamia-7 well has successfully tested and extended the eastern flank area of the oil field. This result, and the promising initial flows from the Amosing oil field extended well test, give us further confidence in the size and scale of our two cornerstone fields for the development of the South Lokichar Basin," McCoss said.

"The results to date from Ekales-2 are also very encouraging and we are very pleased with the results from the 3D seismic survey which reveals there is important additional prospectivity in this exciting new oil province," he added.

By Steve McGrath; [email protected]; @stevemcgrath1

Copyright 2015 Alliance News Limited. All Rights Reserved.


Related Shares:

Tullow Oil
FTSE 100 Latest
Value8,479.47
Change16.01